Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (23738)	12/1/1998 3:22:00 AM
From: Doug R	Respond to of 79262

Mark, There are unique times when a close below the open on a stock with a daily trading range that, in relation to the range of its entire history, is nevertheless very significant. I ran my own brand of TA on ECHO before the close using 4 different closing prices and came to the conclusion that 3 1/4 was right on the line of long term technical significance. It closed at 3 5/16 which doesn't leave my assessment much statistical leeway but I consider that close positive. The volume suggests that over the short term, lower prices should be expected but over the intermediate to long term, ECHO is still at a "bargain" price. Another consideration is the current overall tone of the market in general. In light of everything that I look at in a stock, I have decided that I will hold a decent amount of shares through the coming months and look forward to aggressively trading a good deal of this one. Doug R